TechnologyAdvisers warn to avoid buying new technology

Advisers warn to avoid buying new technology

Accountants can save money by not upgrading their technology according to research by IT company

Don’t spend money on technology is the advice for accountancy firms if they
want to survive the economic downturn, according to computer support company
Ulysses IT.

Ulysses, which specialises in IT support for accountants, has made its
recommendation to firms citing that they should not spend money on new
technology to improve their chances of surviving the credit crunch.

This is a notion supported by the ICAEW business confidence monitor which
shows that confidence in the IT sector has hit a record low of minus 18.2
points.

Pete Turner, technical director for Ulysses, said: ‘This is not the time to
be spending capital on new computers unless they are absolutely needed as
replacement equipment.

‘We normally recommend clients invest in IT infrastructure in the good times,
so they can reduce costs at times like these. Accountants should save their
money until the economy picks up again’ he added.

Turner gives out three golden rules for accountants to ride out the downturn
which include; not replacing computing that work and instead improving broadband
and servers; replace old phone systems with internet phones which have more
flexibility; and get IT support on a pay as you go basis.

Tim Newing, IT director at EasyJet said: ‘Instead of concentrating on
business growth and innovation, we are now turning our heads to efficiencies and
cost cutting. We are in the process of devising our budgeting for next year and
IT plans have changed in line with the new business strategy.’

Further reading:

Weak
economy forces firms to refocus IT budgets

SEC
gets technology makeover

Related Articles

HMRC outlines points-based penalty model for MTD

MTD HMRC outlines points-based penalty model for MTD

3d Alia Shoaib, Reporter
GDPR: How legitimate are your legitimate interests?

Regulation GDPR: How legitimate are your legitimate interests?

1w Ian Singer, PKF Littlejohn
Viewpoint: Making Tax Digital is not all doom and gloom

Making Tax Digital Viewpoint: Making Tax Digital is not all doom and gloom

1w Brian Palmer, AAT
Treasury cracks down on Bitcoin amid tax evasion concerns

Regulation Treasury cracks down on Bitcoin amid tax evasion concerns

2w Alia Shoaib, Reporter
AVADO wins award for online ACCA courses

Career AVADO wins award for online ACCA courses

2w Alia Shoaib, Reporter
The role of the accountant as productivity and technology leader

Technology The role of the accountant as productivity and technology leader

2w Receipt Bank | Sponsored
Accountancy in the digital age: Flexibility, agility, efficiency

Accounting Software Accountancy in the digital age: Flexibility, agility, efficiency

3w Pegasus Software | Sponsored
How to get your clients ready for the cloud

Cloud How to get your clients ready for the cloud

3w Sage | Sponsored